Confused about banking

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  • #958
    Skscrewball
    Participant

    Probably a silly question….how does everyone deal with money while you are on holidays.  This is our first extended holiday this year and wondered how people accessed their banks.  For the canadians in this forum do you use the Atms at Scotiabank?  Any advice is appreciated.  🙂

    #959
    Robs back
    Participant

    hi ball…..for us canadians,,,the best is to open a scotiabank account in canada and use the atms, there is no fees and its your best rate. use the scotia atms. us that have been going long term have been doing this for years. keep a close eye around the atms and use them early in the morning and dont take out large amounts….a couple of people were held up at the atms last winter,,i usually scope them out for a few minutes from a distance to see whos hanging around…

    do keep in mind that your regular atm card will work, but usually there is a service fee and also a fee charged from mexico so its a shock sometimes, but scotiabank is fee free for scotia accounts

    #960
    Skscrewball
    Participant

    Thank you very much for this information.  This is exactly what I wanted to know. 🙂

    #961
    Robs back
    Participant

    your welcome,,,there are basically 4 different exchanges,,,you get a computer exchange rate such as xe,,if the exchange on the computer is 15 for instance,,,youll get 14.6 at the atm, if you use atm …..then if you were to purchace money directly from a bank you would get probably around 14.2 and if you were to use the cambios you probably end up somewhere around 13.9on a computer rate of 15

    and if you were using different bank machines you could loose a full pesos on some , with some accounts….
    caution, stay away from stand along bank machines, there were alot of problems with card skimming, and cover the key pad with your other hand…

    #963
    Skscrewball
    Participant

    Thanks again I really appreciate this information. 👍

    #964
    Robs back
    Participant

    the xe rate today is 14.5 which is slightly higher than this time other years, usually in the winter we get atm rates around 14.5 ish for most of the winter,,some weeks 14.1 some weeks 14.8,,i expect the rate to be pretty much same or slightly higher this winter.
    you will find that some atms are empty on the weekends…..thats just normal

    #976
    Skscrewball
    Participant

    Thanks again I appreciate the information.   Te debo una cerveza! 🍻

    #977
    Robs back
    Participant

    give us a shout when you get in town…

    #1272
    Bluewater
    Participant

    When we are there for several months we use only bank ATM’s and Rob’s comment about being aware of your surroundings when using them are good. Many locals are paid by debit card on Friday so be sure to plan your withdrawals on other days.  I would use ATM’s morning – midday when there are lots of people around rather than later in the evening. We use a bank that waives all ATM fees which is great for an extended stay. Cambios are also quite handy when you want to exchange CDN for pesos, you will see the best cambio rates are about the same as with a bank teller so no need to go to the bank when exchanging.

    enjoy your visit!

    #1273
    Skscrewball
    Participant

    Thank you for the great information. I really appreciate it. 👍

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